But we’re still having trouble clearing the 1.2510 area. Stops lie above 1.2510, and again around 1.2525.
The first close above the 10 day moving average (1.2500) in over a month would be another warning sign that the near-term EUR/USD trend is coming to an end. A break of daily downtrend resistance at 1.2538 would be another.
Hopes that Europe may finally be getting its act together regarding bank and fiscal union is the driving fundamental shift behind the recent rebound, along with anticipation of additional Fed monetary accommodation.
